Gravestone Doji on LTG

Bulls are seen today on LTG as depicted by the Gravestone Doji. This pattern is telling us that bears were in control during the downtrend but now a change is implied by the appearance of a Doji, which shows that the bulls and the bears are in equilibrium. The downward energy is dissipating. But this is a low reliability reversal pattern so we need a confirmation the next day. The location where the Doji appears adds bullishness since it is on the support level.

Based on Ichimoku system, there is no bullish signal.

RSI or Relative Strength Index is now below 30 so this is oversold.

Caveat!

One Response to Gravestone Doji on LTG

  1. […] still at the support and haven’t reversed since the last time we saw a reversal signal from Gravestone Doji. During the time we saw that reversal signal, our Ichimoku system is not showing any bullish signal […]

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